You have done your research, have a pretty good grasp on local market and have found the perfect home to put in an offer. The big question: How Much?

There is a delicate balance between offering too little and offering too much above market value. On the one hand, you risk not being taken seriously and missing out a property which you really wanted. On the other hand, you may end up paying far too much for a property you could have had for less.

A great place to start is with a property comparison website like Homes.co.nz which have developed a special algorithm called HomesEstimate which offers an accurate starting point in determining a home’s value as it uses recent sales and other public data to generate an estimate which is updated every month..

Your real estate agent will also be able to assist with inputs based on sales records for similar properties sold in the area in recent months. One option will be to ask for a registered valuer to give you a current valuation report for the property. This valuation report service will come at a cost of approximately $500 + GST but will give you a clear price indicator with which you can work.

It is critical to have a good understanding of the surrounding neighbourhoods pricing range so that you can identify a well-priced property.

At Mortgage Mantra we have over 10 years experience in helping kiwis get into their first home. We can assist you with assessing all the information available and will help you make the right decision on the price to offer.